Technical summary:
Blue wave iii ended at 1.5037. Now, we will be looking for a correction in blue wave iv towards at least 1.5231 and likely even slightly higher towards 1.53551 before blue wave v lowers to 1.4911. In the short term, we should be looking for support near 1.5063 as a break above minor resistance at 1.5136 will confirm the rally to 1.5231 and maybe even higher to 1.5351.
Trading recommendation:
We will be looking for a EUR selling opportunity near 1.5351.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for January 12 - 2015 . Thanks for your support.
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